Early-retirement wannabe

EdSwippet

OldMusicGuy wrote: »

I'm .004% down compared to October last year. If I had not moved a large amount of cash into an HSBC fund 2 days before the February correction I would be slightly ahead. No contributions since February, as that's when I retired.

Good call. I retired two and a half years ago, but maintained a 60/40 stock/bond passive portfolio in my pensions. So far I'm probably down on these about 5%-6% net on the year. Too much UK equity relative to global market cap is my main problem here. Home country bias, unfortunately.

Not too worried about this, but it did put a stop to plans to crystallise my pensions bang-on the lifetime allowance and so get one of the wretched LTA tests out of the way. At less than 6% shy of it, I had all the paperwork drawn up and ready to post, but now it's back to 11% distant -- just about where I was when I retired -- so that's on ice for an indeterminate period.

Anonymous101

MallyGirl wrote: »

I agree with the shopping centre comment for places like Dubai but I have been to Oman 3 times on holiday and it is the most beautiful, largely unspoilt country. Stunning scenery.

I just find the displaying of wealth, like Dubai seems to be, vulgar. Therefore I don't think i'd like it as a short stay stop over, but as a longer holiday its more appealing. I'm sure they are beautiful countries away from the money.

marlot

OldMusicGuy wrote: »

Shows how we are all different. I've spent over 30 years travelling the world for business and never, ever want to do a long haul flight again....

20 years ago, I was in a job which meant flying every week. It reached the point where the smell of the kerosene made me feel really ill - it was probably just the stress of the travel.


I changed to a job which had 30,000 miles a year of travelling around the UK - which I hugely preferred.

MallyGirl

I got my BA Gold card one year just flying to Edinburgh - weekly for 18 months on that project. I did meet my husband there though and we have now been together 24 years.
We are still considering converting the dog van to a camper van as there is a huge amount of the UK that I would like to explore too.

OldMusicGuy

EdSwippet wrote: »

Good call.

It's probably not quite as good as it looks from an investment perspective because I have a lot of cash in my SIPP which is earning no interest and is therefor being eroded by inflation. But that did help reduce the volatility to avoid sequence of returns risk which is more important for me. Our personal rate of inflation has gone down this year anyway.

kidmugsy

OldMusicGuy wrote: »

It's probably not quite as good as it looks from an investment perspective because I have a lot of cash in my SIPP which is earning no interest and is therefor being eroded by inflation. But that did help reduce the volatility to avoid sequence of returns risk which is more important for me. Our personal rate of inflation has gone down this year anyway.

Have a look at the current monevator post (about Vanguard) and specifically the comments thread. Mark Meldon pointed out how cheap it is to use a SIPP that does offer deposit accounts and ns&i accounts that pay interest.

gallygirl

Still trying to get Mr GG to want to travel to 'foreign-type' overseas places :rotfl:. Aborted a planned trip to Canada as by the time the train tickets went on sale all the flippin' hotels were booked :mad:. However, we are having a few days in Switzerland in March and a Baltic cruise in the summer so getting a bit further afield. I've just agreed to go to Lithuania with a friend next month and we're going to Granada for Christmas (we live in Spain so only a few hours away). Lovely going from a dedicated saver to being able to spend a bit on travel.

A friend I've met since retirement told me she loves how I always say yes to anything. Long may we have the health and sufficient income for it to continue. On that note, off to check the SIPP :eek:.

ETA: Down 0.02% over the year so not too bad. Ironically, the biggest drop I have is in my small S&S ISA - I withdrew half and the remainder has dropped by 17% in less than six months, should have withdrawn the lot :eek:.

Fatbritabroad

Hi guys just found this thread. I am very interested in early retirement and have been for a few years . Tbh primarily as others have said to reach financial security rather than a burning desire to leave my job. I don't like others being in control of my existence

I think I'm on track to be able to retire at 50 to 55 but we'll see how it goes. Kids next year may put paid to that!

Current situation is

Just 38

Salary around 85k

Pay 1270 gross into a pension (12% for me and 6% from my employer currently have about 140k (was 153k before the market started tanking!)

I am also due a large bonus of 38k in Jan 2020 which I'll lump I'm my pension

Save a further 400 a month on SAYE

Various other saving pots probably another 500 net goes into s and s isa and other cash savings

I have s and s and p2p savings totalling about 87k

House worth half a million with 280k mortgage

Ive always been a saver but got 'amicably' divorced 4 years ago which took a chunk though I kept the house . A welcome inheritance from my grandad last year of 42k which I've invested

I'm aiming for about 1 million plus property so at 38 I'm about a quarter of the way there. I really feel like I'm hitting the level where the snowball will start to work now (seeing my pension tank 20k gave me a huge amount of will power after the market dropped right after investing my lump sum inheritance in my isa) hence why im doing riskier investments like p2p with a small (17k odd) of my total investment. Also really enjoy learning about investing etc so it's a hobby for me.

My partner also saves but has much lower earnings than me. I'm using her pension and saving asmore of a bonus at the end to shorten our retirement figure as she never really understood finances before she met me though she's not a spendthrift by any stretch

Target next year is to ditch my stupid lease car 600 a month as i just don't get enough enjoyment out of it and buy a second hand one. I'll invest the resultant cash flow or use it to support us when my girlfriend is on maternity leave.

And make a will!

It's funny the figures above are pretty good for late 30s but I don't feel wealthy at all at the moment. I'm trying to learn to enjoy the journey as I've definitely tipped over into borderline obsessiveness regarding finances.

we mostly spend on travel which I want to continue

Fatbritabroad

I should also add I should inherit about 300k from my mum who sadly has a long term illness and is expected to have a shortened lifespan. She's 65 but I'm certainly not wishing that to happen and don't rely on that. My dad is also pretty wealthy with about 3 million in assets so may well inherit in the future but he's fit and healthy at 68 so again I could be I'm my 70s before that happens and I've always been taught to stand on my own two feet so none of this forms part of my retirement plans

tigerspill

kidmugsy wrote: »

Have a look at the current monevator post (about Vanguard) and specifically the comments thread. Mark Meldon pointed out how cheap it is to use a SIPP that does offer deposit accounts and ns&i accounts that pay interest.

Hi,
Do you have the link? Thanks